December 20, 2019 — PB Financial Corporation (OTCQX: PBNC), the holding company for Providence Bank, has completed a $12 million private placement of 5.375% fixed-to-floating rate subordinated notes.
Based in North Carolina, PB Financial Corporation intends to use the proceeds to support organic growth, fund potential future acquisitions and for general corporate purposes, including investments in its banking subsidiary. The notes are structured to qualify as Tier 2 Capital for regulatory capital purposes.
The team from Janney included Greg Gersack, Managing Director, Head of Equity Capital Markets; John Schramm, Managing Director, FIG Group; Lozan Aleksandrov, Managing Director, Equity Capital Markets; Ricardo Diaz, Managing Director, Institutional Fixed Income Sales; and Christopher Wood, Director, Institutional Fixed Income Sales.
More information is available here.
FIG Partners Is Now Part Of Janney
In June 2019, FIG Partners joined Janney Montgomery Scott LLC, a leader in middle-market financing solutions. Janney places a high value on its consistent track record of delivering solutions to clients. Janney works with clients on a highly-personalized basis, providing exceptional service, commitment and senior level attention. Click here for more information.